Page 1054 - SUBSEC_April2017_WorkingDocument_Neat

SECTION 8: BUSINESS FINANCE (cont’d)

4. Assignments students to groups in which they will use flowcharts to describe the relationships
that exist between financial institutions and regulatory bodies. The charts should be vetted,
refined, and edited during the class under the guidance of the teacher, and then displayed for
all students to make their own personal notes.

5. Engage students in a practical assignment on managing personal income, where they identify
their expenses and match these against their incomes. The students will share their
information with the class during which time different issues such as the importance of savings
should be highlighted and encouraged by the teacher.

6. Arrange for the students to play the game SAVINGS CHARADE, as outlined below.
First allow students to research all these various savings opportunities. Let them prepare the
charade cards with the questions on one card: the saving opportunity, type of financing, the
risk, the benefits, the challenges. Then let them prepare the answers for each on other cards.

Divide them into two teams: Each team will present a member; one will ask the question, the
other respond and should do so in 1-2 minutes. The arrangement is reversed if member fails to
answer questions. The group that gets the most correct answers wins.

7. Class discussion on the sources of capital and why these are options available to sole traders.

8. Students can visit websites and make notes on the various bookkeeping principles. These notes
should guide the discussion in the class, while the teacher outlines the relevance and practical
value of keeping accounts, as well as the importance of making a business plan and using it in
the day-to-day operation of the business.

RESOURCES Comprehensive Economics for CSEC. Caribbean Educational
Bahaw, E. and Mollick, W. Publishers, 2014.

Robinson, K. and Cooke, N. Economics for CSEC with SBA, Study Guide and Exercises. Carlong
Publishers, 2011.

Websites:
http://smallbusiness.chron.com/basic-bookkeeping-principles-56316.html
http://www.microfinanceinfo.com/micro-financial-institutions/

CXC 08/G/SYLL 17 42